AVEVA GROUP PLC
Trading Update: Solid growth in second half revenue
AVEVA Group plc ('AVEVA' or 'the Group'), a global leader in engineering and industrial software, announces the following trading update for the financial year ended 31 March 2021.
On a standalone organic constant currency basis, AVEVA achieved double digit revenue growth during the second half of the year. This resulted in full year revenue being flat year-on-year, on the same basis, reflecting the disruption related to the COVID-19 crisis during the first half. This was in-line with AVEVA's plan for the year.
AVEVA completed the acquisition of OSIsoft on 19 March, enhancing the Group's ability to accelerate the digital transformation of the industrial world. On an organic constant currency basis, OSIsoft grew revenue by a mid to high single digit percentage rate in the year ended 31 March 2021.
Both elements of the combined Group responded flexibly to the challenges posed by COVID-19, growing combined pro forma revenue(1) for the enlarged Group by a low single digit percentage on an organic constant currency basis, while achieving strong growth in Subscription revenue and increasing operating margins.
AVEVA will announce its full year results on 25 May 2021 and will hold a Capital Markets Day on 1 July, at which it will provide new targets.
(1) Includes a full 12 months of both AVEVA and OSIsoft and excludes the impact of other M&A and FX translation.
AVEVA Group plc
Matthew Springett, Head of Investor Relations: +44 (0) 1223 556 676
FTI Consulting LLP
Edward Bridges / Dwight Burden: +44 (0) 203 727 1000